Grace Therapeutics (NASDAQ: GRCE) received a new rating from Wall Street Zen, which upgraded the stock to a “hold” in a report published on Friday. This shift comes in the context of a mixed assessment from market analysts concerning the company’s performance and outlook. Earlier, on October 8, 2023, Weiss Ratings reaffirmed a “sell (d-)” rating for Grace Therapeutics, illustrating a divergence in analyst opinions.
Currently, two analysts have assigned a Buy rating to Grace Therapeutics, while one has issued a Sell rating. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target set at $12.00.
Financial Performance and Analyst Expectations
Grace Therapeutics recently disclosed its quarterly earnings on November 13, 2023. The company reported earnings per share (EPS) of ($0.15), falling short of analysts’ consensus estimates of ($0.12) by ($0.03). Looking ahead, research analysts predict that Grace Therapeutics will post an EPS of ($1.06) for the current fiscal year, reflecting ongoing challenges in achieving profitability.
Institutional Investment Trends
Changes in institutional holdings have also influenced the stock’s trajectory. Several institutional investors and hedge funds have recently adjusted their positions in Grace Therapeutics. For instance, Stratos Wealth Partners LTD. acquired a new position valued at approximately $39,000 in the fourth quarter. Similarly, SeaCrest Wealth Management LLC purchased shares worth around $42,000 during the third quarter, while Millington Financial Advisors LLC added to its stake with a new investment totaling $59,000 in the second quarter.
ADAR1 Capital Management LLC stands out with a significant increase in holdings, raising its position by 98.4% in the third quarter. This firm now owns 350,450 shares of Grace Therapeutics, worth about $1,043,000, after acquiring an additional 173,823 shares during that period. Currently, institutional investors and hedge funds own 6.08% of the company’s stock.
Founded as a clinical-stage biotechnology company, Grace Therapeutics is focused on discovering and developing innovative therapies for rare genetic diseases. The company utilizes a proprietary platform that combines advanced molecular biology and biologic engineering. Its efforts are directed towards identifying and optimizing gene-based and protein-based candidates aimed at addressing specific genetic drivers of disease. The company’s pipeline includes multiple preclinical programs targeting lysosomal storage disorders and other inherited metabolic conditions.
As investor interest continues to evolve, the performance of Grace Therapeutics will likely be closely monitored by both analysts and stakeholders in the coming months.
